Kaiser Aluminum Corp
KALU
Rolling Drawing & Extruding of Nonferrous Metals
Mkt Cap
$1.575BPE
28.22Debt
$1.04BCash
$119.9MEV
$2.495BFCF
$163.4MP/E Ratio
28.22Debt
$1.04BCash
$119.9MEV
$2.495BFCF
$163.4MCharts data: {"Earnings":[{"time":"2014-12-30","value":71800000},{"time":"2015-12-30","value":-236600000},{"time":"2016-12-30","value":91700000},{"time":"2017-12-30","value":45400000},{"time":"2018-12-30","value":91700000},{"time":"2019-12-30","value":62000000},{"time":"2020-12-30","value":28800000},{"time":"2021-12-30","value":-18500000},{"time":"2022-12-30","value":-29600000},{"time":"2023-12-30","value":47100000}],"Sales":[{"time":"2014-12-30","value":1356100000},{"time":"2015-12-30","value":1391900000},{"time":"2016-12-30","value":1330600000},{"time":"2017-12-30","value":1397500000},{"time":"2018-12-30","value":1585900000},{"time":"2019-12-30","value":1514100000},{"time":"2020-12-30","value":1172700000},{"time":"2021-12-30","value":2622000000},{"time":"2022-12-30","value":3427900000},{"time":"2023-12-30","value":3087000000}],"Net Margins":[{"time":"2014-12-30","value":0.052945947938942556},{"time":"2015-12-30","value":-0.16998347582441267},{"time":"2016-12-30","value":0.06891627837065985},{"time":"2017-12-30","value":0.0324865831842576},{"time":"2018-12-30","value":0.0578220568762217},{"time":"2019-12-30","value":0.04094841820223235},{"time":"2020-12-30","value":0.024558710667689946},{"time":"2021-12-30","value":-0.007055682684973303},{"time":"2022-12-30","value":-0.008635024358936958},{"time":"2023-12-30","value":0.015257531584062196}],"Assets":[{"time":"2014-12-30","value":1743700000},{"time":"2015-12-30","value":1250100000},{"time":"2016-12-30","value":1443500000},{"time":"2017-12-30","value":1385200000},{"time":"2018-12-30","value":1419300000},{"time":"2019-12-30","value":1526200000},{"time":"2020-12-30","value":1864700000},{"time":"2021-12-30","value":2422400000},{"time":"2022-12-30","value":2288800000},{"time":"2023-12-30","value":2267400000}],"Stockholders Equity":[{"time":"2014-12-30","value":1015900000},{"time":"2015-12-30","value":774400000},{"time":"2016-12-30","value":804700000},{"time":"2017-12-30","value":746300000},{"time":"2018-12-30","value":740400000},{"time":"2019-12-30","value":733900000},{"time":"2020-12-30","value":732400000},{"time":"2021-12-30","value":692500000},{"time":"2022-12-30","value":631200000},{"time":"2023-12-30","value":652200000}],"ROE":[{"time":"2014-12-30","value":0.07067624766217147},{"time":"2015-12-30","value":-0.3055268595041322},{"time":"2016-12-30","value":0.11395551137069715},{"time":"2017-12-30","value":0.060833444995310196},{"time":"2018-12-30","value":0.12385197190707725},{"time":"2019-12-30","value":0.08448017441068266},{"time":"2020-12-30","value":0.03932277444019661},{"time":"2021-12-30","value":-0.026714801444043323},{"time":"2022-12-30","value":-0.046894803548795945},{"time":"2023-12-30","value":0.07221711131554738}],"ROA":[{"time":"2014-12-30","value":0.0829271090210472},{"time":"2015-12-30","value":-0.27669786417086634},{"time":"2016-12-30","value":0.12317284378247316},{"time":"2017-12-30","value":0.11204158244296852},{"time":"2018-12-30","value":0.10117663637004157},{"time":"2019-12-30","value":0.0823614205215568},{"time":"2020-12-30","value":0.04349225076419799},{"time":"2021-12-30","value":0.026585204755614267},{"time":"2022-12-30","value":0.0017476406850751485},{"time":"2023-12-30","value":0.042251036429390494}]}
Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. The company offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products. The company's automotive extrusions include extruded aluminum products for structural components, crash management systems, anti-lock braking systems, and drawn tubes for drive shafts, as well as offers fabrication services, including sawing and cutting to length. Its packaging products consist of bare and coated 3000- and 5000-series alloy aluminum coil used for beverage and food packaging industry; and Its general engineering products comprise alloy plate, sheet, rod, bar, tube, wire, and standard extrusion shapes used in various applications, including the production of military vehicles, ordnances, semiconductor manufacturing cells, electronic devices, after-market motor sport parts, tooling plates, parts for machinery and equipment, bolts, screws, nails, and rivets. In addition, it offers rerolled, extruded, drawn, and cast billet aluminum products for industrial end uses. It sells its products directly to customers through sales personnel located in the United States, Canada, Western Europe, and China, as well as through independent sales agents in other regions of Asia, Latin America, and the Middle East. Kaiser Aluminum Corporation was founded in 1946 and is headquartered in Franklin, Tennessee.
DCF
Discounted Cash Flow Valuation of Kaiser Aluminum Corp
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $163.4M | $161.9M | $160.4M | $158.9M | $157.5M | $156M | $154.6M | $153.2M | $151.8M | $150.4M | $149M | $1.49B |
| DCF | $140.8M | $121.3M | $104.5M | $90.04M | $77.57M | $66.83M | $57.58M | $49.61M | $42.74M | $36.83M | $368.3M | |
| Value | $1.156B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -18%
Earnings Stability -1.8%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -17% | 6.9% | 3.2% | 5.8% | 4.1% | 2.5% | -0.71% | -0.86% | 1.5% | 1.8% |
| ROA | -28% | 12% | 11% | 10% | 8.2% | 4.3% | 2.7% | 0.17% | 4.2% | 4.7% |
| ROE | -31% | 11% | 6.1% | 12% | 8.4% | 3.9% | -2.7% | -4.7% | 7.2% | 8.4% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +2.05%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -1.12%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +4.96%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -1.58%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +4.1%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -2.05%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 2.07 | 4.18 | 5.60 | 4.87 | 2.86 | 5.41 | 48.43 | -5.05 | 15.14 | 6.37 |
| Debt Equity | 0.26 | 0.46 | 0.50 | 0.50 | 0.67 | 1.14 | 1.50 | 1.64 | 1.59 | 1.56 |
| MIN | ||||||||||
| Graham Stability | - | - | - | - | 81% | 43% | -30% | -120% | - | -120% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 6.37.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 2.02.
What is the Graham’s Stability?
Graham’s Stability measure stands at -1.23.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 13% | 14% | 38% | -9.9% | 4.3% |
| Net Income | -9.1% | -12% | 18% | - | -14% |
| Stockholders Equity | -3% | -2.5% | -3.8% | 3.3% | 1.2% |
| FCF | -3.5% | -2% | -24% | - | -9.1% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +14.25%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +4.27%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -12.48%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -14.35%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -2.5%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +1.24%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -2.03%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -9.11%.